Acorda Therapeutics Shares Fall 4.4% Despite Results (ACOR)

Despite posting impressive financial results, shares of Acorda Therapeutics, Inc. (Nasdaq: ACOR) are currently down 4.4% at $25.85 per share during Monday afternoon trading. Today's trading range for shares of Acorda Therapeutics, Inc has been between $25.77 and $27.04 per share. The consensus price target of analysts covering the company's stock is $40.07 per share.

Volume of 1.9 million shares is already nearly triple the daily average volume of 710,000 shares.

Acorda Therapeutics, Inc. (ACOR) released financial results early Monday morning that far exceeded Wall Street estimates. Acorda Therapeutics, Inc reported 3rd quarter earnings of 31 cents per share, on revenue of $63.62 million.

A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of an expected loss of 12 cents per share, on revenue of $52.22 million.

President and chief executive officer Ron Cohen said, “We continue to be pleased with the progress of the AMPYRA launch. We are gratified by the feedback from patients and physicians, and are proud that AMPYRA is providing unique benefits to people with MS.”

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